CZG – Česká zbrojovka Group SE to acquire Colt
CZG – Česká zbrojovka Group SE (“CZG” or “the Group”) hereby informs that on 11 February 2021, it signed a definitive agreement to acquire 100% of the outstanding equity interest in Colt Holding Company LLC (“Colt”), the parent company of U.S. firearms manufacturer, Colt’s Manufacturing Company LLC as well as its Canadian subsidiary, Colt Canada Corporation.
Subject to the terms and conditions of the definitive agreement, CZG shall acquire a 100% stake in Colt for upfront cash consideration of $220 million and the issuance of 1,098,620 shares of newly issued CZG common stock. The agreement also provides for potential earnout consideration of up to 1,098,620 shares of newly issued CZG common stock if defined EBITDA thresholds are achieved in years 2021 - 2023.
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